Top Telecommunications Company Reports $10.5 Million Annual Savings from Verint AI-Powered Voice Self-Service

Business Wire 11-Nov-2024 8:30 AM

Verint^® (NASDAQ:VRNT), The CX Automation Company™, today announced that a top telecommunications company reported annual savings of more than $10.5 million by using the Verint Intelligent Virtual Assistant (IVA) to power their contact center telephony self-service.

The company replaced their old telephony-driven IVR technology with Verint AI-powered IVA to deliver tangible business outcomes, including improving its self-service containment rate and elevating the service experience for consumers.

The company responds to more than seven million calls each year on a variety of topics including billing, payments, appointment management, tech support and outages. By using the Verint AI-powered IVA, their self-service containment rates rose to more than 50 percent overall with a containment rate of 80 percent for billing-specific calls. In total, the company contains 3.5 million calls with Verint IVA – avoiding the need for transferring these calls to live agents – representing more than $10.5 million in annual savings.

"Verint IVA is built on industry-leading conversational AI that trains on an organization's unique engagement data. This means the Verint AI-powered bots continuously improve and provide consumers with relevant, accurate responses, even within environments of higher conversational complexity or specificity to the business," says Verint's Heather Richards, vice president, Go-to-Market Strategy. "With Verint's leadership in AI-powered self-service bots, organizations are reporting strong AI business outcomes after replacing their legacy telephony-driven IVR systems."

Visit Verint Open Platform and Verint Voice IVA learn more.

About Verint

Verint^® (NASDAQ:VRNT) is a leader in customer experience (CX) automation. The world's most iconic brands - including more than 80 of the Fortune 100 companies - use the Verint Open Platform and our team of AI-powered bots to deliver tangible AI Business Outcomes, Now™ across the enterprise.

Verint, The CX Automation Company™, is proud to be Certified™ by Great Place To Work^®. Learn more at Verint.com.

This press release contains "forward-looking statements," including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.

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